Cardano founder: Ripple supports the "Clarity Act" primarily out of self-interest, rather than to defend the interests of the industry

Jinse Finance reported that on March 30, Cardano founder Charles Hoskinson stated that the current version of the Clarity Act may protect Ripple and XRP but puts smaller projects at risk. He specifically warned that the act could classify newer projects as securities while protecting established networks. In addition, he cautioned that passing this legislation in its current form could weaken competition in the crypto sector. He also pointed out that certain clauses might impose unlimited legal liability on open-source developers. In light of these concerns, Hoskinson believes that Ripple’s continued support for the Clarity Act mainly stems from its own interests, rather than defending the interests of the entire industry.